Don't be too worried about east coast port shutdown, says top shipper
Despite some strident language from union leaders, shippers using US east coast ports should expect ...
For Maine, no other sector has been hit as hard by the China-US trade war than its lobster industry. For lobster farmers in Maine, China has proved a lucrative market, and the region represents the US’s top producer and exporter of the crustacean. Last year, China consumed some $129m worth of the critters. Bloomberg writes that these farmers have been left with an uphill struggle following the tit-for-tat trade policies, with the US commander-in-chief seen as the key culprit in their difficulties. The problems have arisen alongside recent changes to the Canadian trade in lobsters, which now land on European shores duty-free. Some in Maine are considering opening bonded warehouses across the border so they can bypass tariffs and take advantage of Canada’s favourable trade arrangements with the EU.
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